Bitfarms (TSE:BITF) Reaches New 12-Month Low – Here’s Why

Bitfarms Ltd. (TSE:BITF)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as C$1.44 and last traded at C$1.45, with a volume of 1597012 shares trading hands. The stock had previously closed at C$1.59.

Bitfarms Stock Down 9.4 %

The company has a market cap of C$505.04 million, a PE ratio of -3.24 and a beta of 3.20. The firm has a 50-day simple moving average of C$1.99 and a two-hundred day simple moving average of C$2.50. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63.

Insider Activity at Bitfarms

In related news, Director Brian Howlett sold 30,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$2.44, for a total value of C$73,200.00. Also, Director Benjamin J. Gagnon purchased 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was acquired at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. In the last quarter, insiders bought 102,760 shares of company stock valued at $236,450. 23.38% of the stock is owned by insiders.

About Bitfarms

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.